HomeMy WebLinkAbout2011 01-20 FCM Financial Commission
Work Session Meeting Minutes
20 January 2011
1. Call to Order
The meeting was called to order by Mr. Newman at 6:40 PM
Members Present: Commissioners Newman, Landis, Schueller and Agbssou. Council
Member Roche was present. Staff present were City Manager Boganey and Director
of Fiscal & Support Services Jordet.
2. Adoption of the Agenda
Without objections, the Agenda was declared adopted as presented.
3. Minutes
Mr. Schueller proposed and Mr. Newman seconded a motion to adopt the minutes of
the March 30, 2010, June 7, 2010, August 16, 2010 and September 20, 2010
meetings as presented. With all voting in favor, the motion was adopted.
4. Selection of Chair for 2011
By acclimation, Mr. Newman was reappointed as Chair of the Financial Commission
for calendar year 2011
5. 2011 Budget Status
Mr. Jordet reported that the 2011 budget was adopted by the City Council on
December 14, 2010 on a unanimous vote in the form last reviewed by the City
Council and Financial Commission on November 15, 2010. He also explained the
current budget situation for State Aid with the City having budgeted to receive all
MVHC aid and $ 200,000 of LGA for 2011. As a reserve function, $ 200,000 wags
set aside in the contingency account of the Central Supplies business unit.
6. Review of City Council Requests
A Council request to address State Aid Revenues and their use when received by the
City was discussed as a continuation of a conversation form the June 7, 2010
meeting. Two points were raised in discussion requiring additional information:
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• A graph of state aid as a % of budget could be developed
• A comparison of Brooklyn Center with other cities for reliance on LGA could
be developed
In addition, the following points were raised during discussion
• Some recovery of state aid could be made through property tax with an
identifiable correlation to the property tax.
• Annual expenditures in the General Fund should not depend on the expected
receipt of LGA
• Other uses for LGA include street reconstruction, technology upgrades,
building and structural maintenance and equipment replacement
• In order to put such exclusion of LGA into effect a multiyear phase out of LGA
could be instituted beginning in 2012
Staff will take these items and the discussion from June 7, 2010 into account and
draft a response to the City Council for Commission consideration at the February
2011 meeting.
Further discussion will take place on the Council's request to consider Utility Billing
and Collection practices. The March 2011 meeting will be the target for that
discussion.
7. Review of RFP Process and Procedures
Two Requests for Proposals are scheduled for 2011. The first, for Insurance Agent
and Risk Management Services will be developed and discussed at the March 2011
meeting. Following that discussion, the Council will be asked to adopt an RFP for
the services that will be dispersed, collected, reviewed and sent back to the Council
with a recommendation from the City Manager.
The second RFP for Financial Advisor for Bond Sales will be considered by the
Commission in April 2011. Following completion of that discussion the City Council
will be asked to approve an RFP. Review of this RFP will be expanded to include a
review committee of staff, Council and Commission members. Staff hopes to
complete the process and have a recommendation for the City Council through the
review committee by June of 2011.
8. Other Business
No Other Business was presented for Commission consideration.
9. Adjournment
With no other business to transact, the meeting was adjourned at 7:55 PM.
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